Deal has expired, view more checking bonuses by clicking here
Update 1/19/20: Deal is back and valid until March 31st, 2020. Hat tip to reader Jeff M
Update 9/15/19: Deal is back and valid until November 1st, 2019. Hat tip to reader IS250
Update 7/10/19: Deal is back and valid until August 24th, 2019. Hat tip to reader GES
Update 3/23/19: Deal is back and valid until March 29th. Direct deposit is required this time. Hat tip to reader Brenden F
Offer at a glance
- Maximum bonus amount: $100
- Availability: People’s United branches inside Stop & Shop’s, located in the following states: NY & CT only
- Direct deposit required:Â Yes, $1,000+ for 90 continuous days
- Additional requirements: None
- Hard/soft pull: Soft pull
- Credit card funding: Unknown (although you usually can’t do that in branch anyway)
- Monthly fees: $12, avoidable
- Early account termination fee: 6 months, bonus forfeit
- Expiration date:Â
August 25th, 2017 March 29th, 2019 August 24th, 2019 November 1st, 2019March 31st, 2020
Contents
The Offer
There is no direct link to this offer
- Open a personal checking account with People’s United Bank & receive a $100 bonus, this is only available at their Stop & Shop in store locations. Mention promo code WINTER20
- Receive direct deposits of at least $1,000 per month into the new checking account for 90 continuous days
The Fine Print
- Cannot have had a People’s United personal checking account in the last 90 days
- Direct deposit requirements are limited to payroll, social security, pension and government benefits. Paypal transactions are specifically excluded.
- Reward should post within three months after the expiry of the offer (e.g sometime in late August)
- Cannot be combined with any other offer
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fee
There is a $12 monthly fee. This is waived with an average minimum daily balance of at least $1,000.
Early Account Termination Fee
If the account is closed within 6 months the bonus will be forfeit.
Our Verdict
Not a bad deal if you live in the area as it’s a soft pull, although direct deposit is now required. It used to be better when you could just use the debit card ten times. I’m adding this to our list of the best checking sign up bonuses.
They look at chex system. Will not allow you to open if you have opened a lot of bank accounts that year. For me this number was 8
FYI – There’s a $50 referral through Referlive. But, it does NOT stack with the $100 checking bonus. I was denied the extra referral bonus. Just a heads up.
If you want to compare, my real DD coded as “ACH CREDIT ‘My company name’ PAYROLL 190930.” Transaction type: DEPOSIT
The last part of digits refers to today’s date that it posted (9/30/19).
Terms & Conditions: https://imgur.com/sZmyCw0
1. Chex – Yes, not sensitive. 40+/12. Opened with out of state address/DL.
2. No hard pull. You can decline overdraft.
3. ETF – 6 months with bonus claw back
4. Plus Checking eligible for this bonus. Free account with atm reimbursements too
5. You get an extra $1 for doing a mobile check deposit during account sign up
6. Temporary issue debit card. Regular debit card mailed after
7. New customers who have not had an account in the past 180 days. One per household
Thanks!
Was at a Stop & Shop in CT and saw flyers that this bonus was extended until 11/1/19 at branches inside Stop & Shops in NY and CT. Must open in branch, mention promo code FALL19, have DD totaling $1500 or more within 90d.
A few corrections: They’ve changed the weird “90 continuous days” language to “within 90 days of account opening.” If you open Plus Checking, there’s no monthly fee. You can’t have had a People’s personal checking account within the last 180 days (up from 90 days). That fits in nicely with the 6 month period for the early termination fee, but given some of the comments, it’s probably not churnable. There’s a limit of one per household.
Still cumulative deposits of $1000 or one DD of at least $1000?
Cumulative.
They have a referral bonus of $50 for the referrer and $50 for the referree, so you can effectively get around the household limit this way. It’s also a better deal since there’s no direct deposit requirement and they don’t send a 1099 to the referrer.
Can the referral be stacked?
Appreciated anyone sharing the screenshot of the “within 90 days” instead of “90 continuous days”
They now have a $300 Bonus. I may not do it due to the fact there aren’t a lot of datapoints about direct deposits and i’m not sure the $1500 needs to be done at one time: https://www.peoples.com/peoples/landingpage/getmore
Thanks, got that one already: https://www.doctorofcredit.com/ma-ny-peoples-united-bank-100-300-checking-bonus/. Unfortunately it expired in November of last year
We got the bonus. Shall we sign up for Rewards:
https://www.peoples.com/peoples/Main/Personal/Banking/Checking/Debit-Card-Rewards
register card link:
https://www.my-debitrewards.com/register.php
The Banker at the Long Island City office said this ended on August 25th.